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Working Paper
Seven Economic Facts About the U.S. Racial Wealth Gap
Using data from the 2019 Survey of Consumer Finances and the U.S. Census Bureau, along with data and research from other sources, this paper presents seven economic facts about the racial wealth gap in the U.S. We present data on racial disparities in income, employment, homeownership, education, access to credit, and retirement savings – all factors that contribute to a significant and persistent gap in net worth between households of different races and ethnicities, particularly between Black households and White households. While none of the economic factors listed fully explains the ...
Working Paper
Racial Wealth Gains and Gaps: Nine Facts About the Disparities
Every three years, the Federal Reserve System conducts the Survey of Consumer Finances (SCF)—one of the most detailed examinations of household wealth in the U.S. The two most recent surveys were conducted in 2019 and 2022, thus providing a valuable resource to researchers exploring wealth changes during the Covid-19 pandemic and recovery. This working paper draws from the SCF and other important sources to present data on the racial wealth gap and socioeconomic factors that impact the racial disparity in net worth between households by race and ethnicity. We demonstrate that the racial ...
Working Paper
The Covid-19 Pandemic Spurred Growth in Automation: What Does this Mean for Minority Workers?
The Covid-19 pandemic has accelerated trends in automation as many employers seek to save on labor costs amid widespread illness, increased worker leverage, and market pressures to onshore supply chains. While existing research has explored how automation may displace non-specialized jobs, there is typically less attention paid to how this displacement may interact with preexisting structural issues around racial inequality. This analysis updates that of a 2021 Brookings paper by the authors, finding that Black and Hispanic workers continue to be overrepresented in the 30 occupations with the ...
Race and the Threat of Job Loss from Automation
Kristen Broady, fellow at Brookings Metro, discusses the vulnerability of Black and Hispanic workers to automation.